According to media reports, the government may ask state oil marketing companies to absorb a hike of up to | 1 per litre on petrol and diesel retail prices. Brent crude oil prices have witnessed an upward trajectory in the past two quarters and are currently at a four-year high of US$71/bbl. This has led to the escalation of petroleum product prices, especially petrol and diesel. If there is any limit on passing on fuel price hikes to consumers, the oil marketing companies (OMCs) would have to bear a notable burden on their profitability. However, some reports also indicate that OMCs have not...